As heads of states, the United States’ governors are responsible for leading their respective states to reach their full potential for the benefit of their residents. They are in the executive branch of the state government, which means that they are in charge of implementing laws.
In order to get into their positions, these governors spent a significant amount during the campaign period, often with the help of sponsors. Because of this, you might be left wondering how much these leaders have in terms of assets.
This list gives you 10 of the wealthiest governors in the United States. Ready to know which states have the richest governors? Read on.
10. John Bel Edwards
Net Worth: $4.8 million
First on our list is John Bel Edwards, the governor of Louisiana. With a salary of $130,000, Edwards was able to accumulate nearly $5 million in his political positions. He is also an attorney by profession, as well as a military veteran who served with the 82nd Airborne Division.
Edwards became the 56th governor of the state when he was elected in 2016. He was re-elected in 2019, making him the very first Democrat to be re-elected since the mid-1970s. Aside from being governor, he also served in the Louisiana House of Representatives.
9. Andrew Cuomo
Net Worth: $5 million
With an estimated net worth of around $5 million, Andrew Cuomo is one of the highest-paid governors in the United States. He has a salary of $200,000. Aside from his pay as head of New York, he also has different sources of income, including his real estate career.
Before becoming one of the wealthiest governors in 2010, he worked in different areas of the government such as the Department of Housing and Urban Development. He also served as Attorney general for New York back in 2006. As governor, he was re-elected twice.
8. Doug Ducey
Net Worth: $6 million
Earning $95,000 as governor, Doug Ducey is one of the heads with a salary below $100,000. This man from Toledo, Ohio now leads the state of Arizona since 2015. Before being elected as governor, he worked as a State Treasurer from 2011 to 2015.
Aside from his political career, Ducey is also known for his business activities. He worked in sales and marketing, first at Procter & Gamble, where he gained managerial experience. He then became the CEO of Cold Stone Creamery from 1995 to 2007.
7. Ned Lamont
Net Worth: $7 million
Earning $150,000 as governor, Ned Lamont is the 89th leader of Connecticut. He has been serving since 2018, after being defeated by his opponent when he ran in the 2010 gubernatorial election.
Lamont is known for his company Lamont Digital Systems, which is a telecommunications company focused on providing cable services to college campuses. Aside from this, he also volunteered to teach entrepreneurship at Warren Harding High School.
6. Roy Cooper
Net Worth: $10 million
As the 75th governor of North Carolina, Roy Cooper earns $144,349. He worked in the general assembly in the House of Representatives and Senate. He also served as the Attorney General in 2001.
He first ran for the gubernatorial elections in 2016 where he won. There was a lot of controversy surrounding the 2016 elections as his opponent accused Cooper of voter fraud, but he still won after a recount.
5. Ralph Northam
Net Worth: $10 million
Ralph Northam is the 73rd governor of Virginia with a salary of $175,000. He has been active in the political arena since 2007 when he ran for senate office where he won. He was reelected in 2011 and served until 2014.
Aside from politics, Northam builds his assets from his income as a pediatric neurologist. He also served in the military as a medical officer. He took up his pediatric residency in Texas and started his neurology fellowship in DC.
4. Gavin Newsom
Net Worth: $20 million
California Governor Gavin Newsom has perhaps the highest salary of all US state leaders, with a whopping $201,680 in earnings for this position. Perhaps this is what helped him get into the top five of the wealthiest governors in the US.
However, he is also a businessman who co-founded the PlumpJack Associates L.P. and then the PlumpJack Winery. In total, he co-founded 11 businesses. When he was elected as mayor of San Francisco in 2004, he sold all his stocks in that city.
3. Pete Ricketts
Net Worth: $50 million
Governor Pete Ricketts from Nebraska currently makes a salary of $105,000 per year – and it appears that he is still after a much-coveted second term. Despite the job paying a relatively low salary per year, Ricketts is considered one of the wealthiest people to live in the governor’s mansion.
His high net worth of $50 million can be attributed to a wealth of investments – with his disclosure statement alone reaching a whopping 15 pages. Among his enviable assets include investments in private equity firms, mutual funds, bonds, and family trusts.
2. Phil Murphy
Net Worth: $60 million
Phil Murphy makes $175,000 per year at his position as the Democratic Governor of New Jersey. A Goldman Sachs alum having held executive-level positions, Murphy’s stay in the company allowed him to boost his net worth well above $60 million.
Prior to holding the governor position, Murphy has worked as the United States Ambassador to Germany from 2009 to 2013, with a nomination for the position no less by then-President Obama himself. He was also involved in the Democratic National Committee as a finance chairman under Howard Dean.
Today, Murphy and his family remain active with donations and philanthropic works.
1. Jared Polis
Net Worth: $400 million
Last but certainly not least is Jared Polis who holds his governorship position in Colorado. Despite only getting $90,000 a year as his salary, it appears that the financially savvy Democrat knows business like the back of his hand.
Throughout his career, Polis founded a number of companies and businesses under his name, including an online greeting card firm which was, later on, sold for a whopping $780 million. He also founded an online flower delivery business which he sold for $500 million.
Today, Polis is recognized not only for being the first openly gay governor of the United States, but also because of his numerous philanthropic work.
These state governors definitely deserve being in this list not only because of their work as a public servant but also in their private pursuit. With their businesses and other careers, there is no surprise that these individuals are the wealthiest governors in the US.
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